Shares of Restaurant Brands International (QSR) climbed in Monday trading after the parent of Burger King and Tim Hortons reported better-than-expected quarterly earnings. Excluding one-time items, the company earned $0.30 a share, topping the Thomson Reuters consensus estimate of $0.25. Revenue came in at $1.04 billion, also beating expectations of $1.01 billion. The company said comparable store sales rose 6.7% at Burger King, driven by product launches like the A.1. Hearty Mozzarella Bacon Cheeseburger, Extra Long Pulled Pork Sandwich and Chicken Fries. Comparable store sales climbed 5.5% at Tim Hortons during the quarter, boosted by strength in dark roast coffee and its Creamy Chocolate Chill beverage. In comparison, rival McDonald’s (MCD) reported a 0.7% decrease in global comparable store sales during the quarter ended in June. Tim Hortons added 52 net new restaurants during the quarter, ending the period with 4,776 locations. Burger King added 141 net new restaurants in the second quarter, ending the period with 14,528 locations. Last year, Burger King purchased Tim Hortons for $11 billion, forming Restaurant Brands. Restaurant Brands says it has over $23 billion in system-wide sales and over 19,000 restaurants in approximately 100 countries and U.S. territories.
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